The problem of approximating locally smooth multivariate functions by linea
r combinations of elements from an affine-invariant redundant dictionary is
considered. Augmenting recent upper bound results for approximation, we es
tablish lower bounds on the performance of such schemes. The lower bounds a
re tight to within a logarithmic factor in the number of elements used in t
he approximation. Using a recently introduced notion of nonlinear approxima
tion, we show that the approximation ability may be completely characterize
d by the pseudodimension of the approximation space with respect to a finit
e set of points. This result establishes a useful link between the problems
of approximation and estimation, or learning, the latter often being conve
niently characterized, at least in terms of upper bounds, by the pseudodime
nsion.